27 Mar 2014
LEVIN & ANOR v WEST CITY CONSTRUCTION LTD CA326/2013 [2014] NZCA 98
- Citation
- [2014] 3 NZLR 1
- Court
- Court of Appeal
No binding equitable assignment was made in November 2005; the parties had only an agreement in principle or a stipulation to pay from bond monies subject to a formal agreement. The operative assignment occurred when the deed was signed on 3 October 2006 which fell within the two year voidable period and accordingly the assignment was set aside. The respondent could not avail itself of the s 296(3) defence because it did not act in good faith in circumstances where a reasonable person would have suspected insolvency and no contemporaneous value was given; the court would not have declined rel…